In the fast changing business environment, the functions of financial managers are no more limited to preparation of financial statements or monitoring company finances but encompass increased areas. Apart from data analysis or leading financial team; top level financial managers advises senior level departmental managers and administrators’ different ways, means and techniques to help maximize company’s profitability. Five key roles played by top financial managers like Dessa Bokides are stated below:
- Estimation of Capital Requirement- A business enterprise needs further introduction of capital in order to meet the requirements of its working capital, development and modernization programs or purchasing of fixed assets and more. It’s the responsibility of a financial manager to estimate the amount of required finances both on short-term and long term basis.
- Determination of Capital Structure- Once the estimate is found, a financial manager together with other senior management level decides the means of funding and their proportions. For example, under requirement of huge funds, typically corporate companies go for issuing equity or preference shares while debentures and bonds are also issued to ensure consolidated capital accumulation. Obtaining finance or debt from financial institutes or investors is also undertaken based on the volume of fund needed and other obligations.
- Procurement of Finance- A major responsibility of financial manager is to procure funds through different sources as said above. For this, the professional may require sitting and negotiating with creditors, financial institutes like banks and produce them the required documents for fund sanctioning. In case of equity/preference shareholders or debenture holders, the company can call in-house meeting session to discuss on this issue. Importantly, the source of funding also depends on the cost factors of raising funds.
- Disposal of profits/ dividend decision- A financial manager remains responsible to decide the proportion of retaining profits within the company and the percentage to be distributed to shareholders or debenture holders as dividend. Since, deciding on this issue is quite a major concern, as per necessity the financial tops have sitting with the senior managers as well as board members prior to finalization of dividend percentage.
- Financial Control- Dessa Bokides, who has been positioned as the Chief financial manger of DFC Global evaluates the financial performance to ensure the ROI (Return on Investment) of the major group. With her long experience in the industry, she is expert in cost control, budgetary control, ratio analysis and also takes care of international audit as per departmental necessity. She is having vast knowledge in break-even analysis, Cash analysis and Distribution, merger and acquisition, Investment, Debt management and other areas.
Before joining her professional life, she obtained MBA degree in Finance from the prominent Columbia Business School. She completed her graduation from Colorado College. DFC is a global player and largest service providers of non-standard consumer financial products. It has a series of global patented financial products which are marketed in European countries. The company provides high standard of customer services through online and its retail operating centers spread over Canada, Finland, US, Romania, Poland, Spain and more.